You probably weren’t thinking about your tax burden when you said “I do,” but marriage does impact upon a couple’s income tax requirements, sometimes positively and sometimes not. Newlyweds are often confused about the best type of filing for their particular situation as well as the legalities involved. If you want to enjoy the lowest tax rate possible, you’ll need to do your homework, starting with a few considerations.

When did you get married?

Your marital status is defined by the date you got married. If your wedding took place, even as late as the last day of the year, you are considered to have been married for that entire year by the IRS. This is true for everyone, including gay couples who marry in jurisdictions where same-sex marriage is authorized by law, independent of their state of residence.

Your To-do list

Before you decide which type of return is best, make sure to do the following:

Double check your tax withholding to determine if both partners have enough being taken from their paychecks

Inform the Social Security Administration of any name changes made

Gather income statements and forms, receipts and deductible expenses, just as you did when you were single

Keep an eye on all possible tax breaks you might claim, including charitable donations, education credits, investment losses, mortgage interest and others, as recommended by a tax professional

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You can then explore the two options available for your tax returns: Married filing jointly or Married filing separately.

Married filing jointly

Most couples find this to be the most financially-beneficial option, but if you have any doubts given your specific situation, have a tax professional prepare both versions before you decide which one to file. Married filing jointly allows couples to: